The services sector performed very well in 2023 said the Employers and Industiralists Federation (Oev), with significant improvements registered in several key areas.   Notably, the indicators for accommodation and catering services saw an impressive increase of 18.9 per cent, administrative and support services grew by 15.5 per cent, professional, scientific, and technical activities by 2.7 […]

Kedipes has announced a new repayment plan for non-performing loans (NPL) that would be secured by a primary residence, with a market value of up to €350,000.   In a detailed statement, Kedipes said that this initiative is part of its long-term commitment to finding consensual solutions tailor-made for the specific circumstances of each borrower. Working […]

Minister of Energy, Commerce and Industry George Papanastasiou has departed for Tokyo, Japan, where he will participate as head of a business delegation in the Cyprus-Japan Business Forum on 9 April. The event is being co-organised by the Ministry of Energy, the Cyprus Chamber of Commerce and Industry and the Republic of Cyprus Trade Centre […]

Finance Minister Makis Keravnos said the government’s goal is to create a fully digitalised state offering quality services, addressing a gathering over the weekend. The summit, entitled “The future of Business: Adapting to a Changing Landscape”, was organised by CIM, the Cyprus Business School at the Bank of Cyprus headquarters in Nicosia. Speaking about the digital transition, […]

Cyprus’ General Government surplus exceeded half a billion in the first two months of 2024 marking an increase of 34% compared with the respective period of last year. According to preliminary data released by the Statistical Service of Cyprus (CyStat), the general government fiscal results indicate a surplus of €534.8m, representing 1.7% of GDP, for […]

The Cyprus-Greece maritime passenger connection will run for a third consecutive year, subsidized by Nicosia following the European Commission approval. An announcement from Cyprus’ Deputy Ministry for Shipping is expected on April 16, regarding the resumption of the service, scheduled to commence on May 29. Ticket sales will begin shortly after the announcement. In 2023, […]

Career banker Christodoulos Patsalides was appointed governor of the Central Bank of Cyprus on Monday for a five-year term, the island’s presidency said. Patsalides, who will represent Cyprus on the rate-setting Governing Council of the ECB, takes up his duties on April 11, replacing Constantinos Herodotou. Patsalides has been an economic adviser to Cypriot President […]

On Saturday 6th and Sunday 7th April 2024, the Medical & Health Expo Cy is being held under the auspice of the Cypriot Ministry of Health. This is a brand-new exhibition that aims to fill a gap in the market by covering the medical, paramedical and pharmaceutical sectors. The first-ever Medical & Health Expo Cy […]

Sir Stelios Haji-Ioannou has joined the board of The Hellenic Initiative (THI), an organisation investing in Greece through philanthropic actions and programmes focused on economic recovery, according to an announcement released on Friday. As part of its mission, The Hellenic Initiative seeks to “mobilise people to address the consequences of the crisis, empower entrepreneurship, and create […]

Cyprus witnessed a notable increase in total new loans in February 2024, reaching €575.5 million, compared to €462.7 million in the previous month, according to a report released on Friday. This surge is attributed to a rise in loans extended to companies, amounting to approximately €130 million. In addition, while the interest rate on loans to companies increased, […]

The 2nd Cyprus Forum Cities, the largest local government conference in Cyprus, is set to be held in Limassol on April 18-19, 2024. This forum is characterised by its commitment to fostering sustainable, green, and smart city environments, emphasising the construction of communities that are resilient to the challenges posed by climate change. Moreover, it serves as a […]

The recently held TEDxMolos event, which took place on March 27 at the Plevsis Hall in Limassol’s Old Port area, truly lived up to its theme of ‘Local Legends: From Passion to Change’. The Cyprus Mail was a media partner of TedxMolos, allowing us to experience this groundbreaking event first-hand. The evening kicked off at 18:30, and it was a whirlwind […]

Cyprus experienced an increase in both production and producer prices in the construction sector during the year 2023, according to a report released on Friday by the Cyprus Statistical Service (Cystat). In particular, the Production Index in Construction for the fourth quarter of 2023 rose to 227.99 units, 2015 being the base year, set at 100 units, marking […]

The Minister of Energy, Yiorgos Papanastasiou, recently stated on the ALPHA News programme that he had been in contact with the surveyor employed by the Chinese company CPP on the construction project of the Floating Storage and Regasification Unit (FSRU) Prometheus. He was informed that the ship is ready, and its final certification is a […]

In February 2024, the Retail Trade Turnover Value Index increased by 5.8% compared to the same month in 2023. During the same month, according to the Statistical Service, the Retail Trade Turnover Volume Index rose by 5.1% compared to the corresponding month of the previous year. Furthermore, for the period of January-February 2024, the Turnover […]

The Cabinet this week approved a circular economy scheme for small and medium enterprises (SMEs), following a proposal by a proposal by the Minister of Energy, Commerce and Industry George Papanastasiou. The scheme is included in the Cyprus Recovery and Resilience Plan for the period 2021-2026 and will be financed by the Recovery and Resilience Facility of the […]